Steady Coda hails Neon launch

Coda, the accounting software group, has reported a solid revenue growth of
8.1% to £28.1m for the six months to 30 June 2007 and predicted a strong second
half as it rolls out its largest ever product release Neon.

‘These are very positive results and we have shown that we are still able to
grow and develop,’ said Coda chief executive Jeremy Roche.

Roche said that Coda had benefited from expanding into new markets beyond its
core financials offering, and had seen strong growth in consolidation and
procurement software.

The Neon software package, Coda’s largest ever product release, for example,
will offer procurement and invoice matching functionality in addition to the
core finance piece.

Roche said Coda had invested heavily in Neon and that it was committed to
continually improving its offering to finance teams.

‘Neon is a big investment for us. The underlying technology has been
completely refreshed and the visuals have been markedly enhanced,’ said Roche.

Analysts are also upbeat on the Neon roll-out. Brokers Panmure Gordon said
Neon would provide a timely boost to licence sales and strengthen Coda’s sales

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